almaden valley

The Santa Clara County real estate market is cooling off, which is very often the case in summers here. It varies from place to place within the region, and one pricing tier to the next, but I am definitely seeing and hearing about fewer offers, more lowball offers, contingencies creeping back into sales, etc. In red hot properties with great schools, you might get a half dozen offers…and three of them may be “bad” offers from home buyers who are pessimistic on the market. They do not get the sale, of course, but it is interesting to hear about an increase in those kinds of bids.

My RE REport just came out, and here are some images and data from that for Santa Clara County. First, the market barometer. Here, you can see that sellers had stronger power in March than they do now – by quite a lot! (Click on the image to go to the report and see a clearer version of it.)

Graphic image - Santa Clara County market barometer.

 

Next, the average and median sale prices and the number of units (again, click on the image to go to the report). This graphic does not look as bad or as much of a change as the one before, though you can see that since May prices have gone down a little, and sales are now tipping downward and are fewer than sales for this time last year.

Graph of Santa Clara County home prices and sales

Next, the sale price to list price ratio is a bit more startling. Sales are still averaging about 1-05% of list price – so that is hard for sellers to complain about – however, it is unmistakable that the climate for home selling in Silicon Valley is undergoing a change and this is literally past its peak. Buyers and sellers alike need to wonder whether it will calm down or continue at the current rate of decline. Is it a buying opportunity, or the beginning of a correction?

Graphic of the Santa Clara County sale price to list price ratio

The numbers themselves point to a turnaround in the market. I’ll jot the median sale price for the county here – it’s a large enough pool of sales to be pretty reliable as a gauge of the real estate market in the San Jose area:

July 2018 $1,350,000
June 2018 $1,402,000
May 2018  $1,416,000
April 2018  $1,420,000
March 2018 $1,450,000 – PEAK
February 2018 $1,380,000
January 2018 $1,163,000

Between March and July, the median sale price dropped $100,000, or 6.89%. As you can see, it had also jumped considerably between January and March, and even at today’s lower median sales price, it’s still higher than January. It will be interesting to see where it ends up in January of 2019.

A quick look at the numbers for this month’s Santa Clara County RE Report:

Trends at a Glance

Trends At a Glance Jul 2018 Previous Month Year-over-Year
Median Price $1,350,000 (-3.7%) $1,402,000 $1,175,000 (+14.9%)
Average Price $1,624,690 (-5.1%) $1,712,500 $1,409,380 (+15.3%)
No. of Sales 847 (-13.3%) 977 1,015 (-16.6%)
Pending 924 (-0.6%) 930 931 (-0.8%)
Active 1,151 (+8.0%) 1,066 816 (+41.1%)
Sale vs. List Price 105.6% (-2.0%) 107.8% 105.5% (+0.1%)
Days on Market 19 (+13.7%) 17 20 (-6.7%)
Days of Inventory 41 (+28.8%) 32 24 (+69.0%)

 

It’s now August 10th and it’s too early to know for sure what the August numbers are doing, but normally August is a quiet month with sale prices a little off. So we’ll see. Continue reading

How are the key housing indicators in the Almaden Valley area of San Jose? At the moment it’s said to be a hot “seller’s market” overall.  But look closer and you can see that in the Almaden Valley housing market there are clear market micro-climates.  Prices are better for sellers, while buyers struggle with higher prices and less homes to choose from.  Recently we have seen a slight cooling, too – very welcome for Almaden home buyers.

Almaden Valley Housing Market: Inventory of Houses for Sale

Right now I have a few Almaden Valley home buyers and they have all been disappointed at the lack of inventory. What’s happening?

First, let’s see what “usually” happens in the 95120 zip code in terms of the number of houses for sale. Here’s a look at the last 10 years (all available history), care of Altos Research – you can see that it’s been rising since January 1st, but it’s a proverbial drop in the bucket:

Real Estate Market Chart by Altos Research www.altosresearch.com

Here you can see that inventory has regular peaks and dips. Inventory tends to rise early each year and peak in mid to late summer. After the peak is a decline through autumn and winter with the lowest point in the coldest part of the year before turning around again before spring.

Now let’s look up close at just the last 3 years. Again, inventory IS rising, so it’s betting a little easier for buyers, but still difficult compared to the last 3 years.

Real Estate Market Chart by Altos Research www.altosresearch.com

As usual, our inventory bottoms out in winter and then rises beginning sometime after the Super Bowl or perhaps a little later. Right now we are still in “rising inventory” mode in Almaden, so the market should be softening a little. Also, we are hearing of “buyer fatigue”, so in many cases there may be fewer offers than earlier in the spring. Continue reading

California Ridge sits in the southern park of Almaden Valley within the city of San Jose CA 95120. This townome community is nestled into the foothills, within the highly prized Williams Elementary School area of attendance as well as the Bret Harte Middle, and Leland High attendance areas. Aside from nearby construction or home improvement projects, this is a quiet area of Silicon Valley, close to the scenic and enormous Almaden Quicksilver Park.

Many of these townhouse properties enjoy lovely views of Almaden Valley or open space. The streets are gently rolling and the homes younger and pleasant looking.  Nearby San Jose neighborhoods are Almaden Springs and Country View Estates.

California Ridge neighborhood view

Although sometimes mischaracterized as a condominium or condo complex on the MLS (likely because that is how CoreLogic has dubbed it), California Ridge is a Planned Development, not a condo. Owners own the lot and the home in which they live. That is not the case with condos.

The community actually consists of two distinct neighborhoods.  One is on or adjacent to Copper Peak (tract #7829), which is the street where these photos were taken. It’s got enough elevation to afford lovely valley views. The other area is on and adjacent to Shelby Creek (tract #7828), which has a pleasant setting also, but without the same valley views as it’s lower. This photo is from the Realist Report, which shows each property in a track with the red “tag”. While I don’t love the way it looks, it provides a good sense of where these 2 neighborhoods are in relationship to one another.

Map of the two California Ridge neighborhoods

What is interesting is that between these two California Ridge neighborhoods, there are a couple of streets with single family homes on large lots (tract #7986). This is unusual.

What are the townhomes at California Ridge like?

These townhomes can feel refreshingly “young” compared to many other homes in Silicon Valley, most of which were constructed decades earlier.

 

Built in 1987 and with wood siding, decks, and loads of windows, the homes are a great visual match for the setting and seem poised to take the most of the terrain. The interiors are a little more open than older homes, so that is an appealing element to many home buyers, also. Each townhouse includes a 2 car garage.  Continue reading

club-almaden-sign
What makes Almaden so highly desireable a place in which to live? Real estate prices are among the highest in San Jose (and Silicon Valley). For much of Santa Clara County, its a little remote; the commute might be a little too far for some, or so its thought. But that may be a misconception.

Where is Almaden Valley?

Almaden sits nestled between the Santa Teresa foothills and the Santa Cruz Mountains in a southwest corner of Santa Clara County. It touches the Los Gatos and Cambrian Park borders on one side, Blossom Valley on another and stretches toward Morgan Hill at the base of the valley. The major roads winding through Almaden are Camden Avenue, Almaden Expressway, and Coleman Avenue. The local landmark, viewable from much of Almaden Valley, is the famous Mount Umunhum, perched at a high point of the coastal foothills and recently opened to the public as park land.

Why Choose Almaden Valley?

Great living: Almaden boasts low crime, great schools, and strong community involvement. With nice public facilities such as a rec center and library, and some neighborhood communities with cabanas and busy swim teams, its family oriented and kid friendly.

almaden-golf-course-view-smallerScenic open spaces: Almaden has lots of open spaces with golf courses, parks, and trails. The southernmost part of Almaden and some of the hilly areas are still beautiful horse country too.

Continue reading

wine-pouringA San Jose tradition for decades, the Almaden Valley Art & Wine Festival is a very enjoyable non-profit fundraiser that appeals to just about everyone in Silicon Valley! This year’s event runs Sept 17, 2017 from 10am – 6pm at Almaden Lake Park (located at Almaden Expressway and Coleman Road, near the base of Almaden Valley and nearly touching the Blossom Valley area of San Jose).

To get all the details, please visit the Almaden Valley Women’s Club website. I hope to see you there!

  1. 5 beds, 3 baths
    Home size: 2,465 sq ft
    Lot size: 9,160 sqft
  2. 2 beds, 3 baths
    Home size: 2,175 sq ft
    Lot size: 2,874 sqft
  3. 4 beds, 2 baths
    Home size: 2,167 sq ft
    Lot size: 8,394 sqft
  4. 4 beds, 4 baths
    Home size: 2,943 sq ft
    Lot size: 14,331 sqft
  5. 6 beds, 3 baths
    Home size: 2,585 sq ft
    Lot size: 11,303 sqft
  6. 4 beds, 3 baths
    Home size: 2,310 sq ft
    Lot size: 8,080 sqft
  7. 4 beds, 3 baths
    Home size: 2,655 sq ft
    Lot size: 9,282 sqft
  8. 4 beds, 3 baths
    Home size: 2,240 sq ft
    Lot size: 13,033 sqft
  9. 4 beds, 2 baths
    Home size: 1,966 sq ft
    Lot size: 8,267 sqft
  10. 5 beds, 3 baths
    Home size: 3,287 sq ft
    Lot size: 11,086 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 9/24/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Map of the Almaden Meadows neighborhood in San Jose 95120The scenic, tidy Almaden Meadows neighborhood, just behind Almaden Meadows Park in San Jose, is one of the larger communities within the Almaden Valley. It includes 1176 single family  homes (no condos, no townhomes). TJ Martin park runs near the top of the community, so there are plenty of places to get out and be active nearby! Drive down any of its streets and you’ll find that many are tree-lined, and in nearly every case, the road is not crowded with cars. It’s a very pleasant sense of un-crowding.

Where is the Almaden Meadows neighborhood?

Almaden is a “long” community, but this area is not deep into the valley, but closer to Cambrian and Los Gatos. For commuters, this is a big plus as it’s that much faster to get home.

If you can picture Coleman Road and Camden Avenue coming together in a bit of a “V” formation, Almaden Meadows would be nestled into it, except at the very base of the “V”, which would hold the Montevideo neigborhood.

Put another way, it’s east of Monteverde, south of Coleman, north of Camden and west of Meridian.

From this community, it’s a quick jaunt to get over to Oakridge Mall or nearby areas along Blossom Hill Road. There’s an abundance of restaurants, shopping, and entertainment nearby. Entertainment options include miniature golf, bowling, and a large movie theater at the mall.  Additionally, it’s not far from Lake Almaden.

Sign for Almaden Meadows Park in San Jose CA 95120

Which public schools serve this community?

Schools for this area are mostly in the San Jose Unified School District, but one corner (north of Redmond and up against Coleman but not quite as far as Meridian) is in the Union School District and Campbell Union High School District. 

For the Union School District part, the schools are Guadalupe Elementary, Dartmouth Middle, and Leigh High or Branham High – it’s a “free zone” (see the MAP of the CUHSD’s boundaries here:  http://www.myschoollocation.com/campbelluhsd/).

For the San Jose Unified section, the schools are Los Alamitos Elementary, Castillero Middle , and Pioneer High.  See the map here.

See also: Schools, API Scores & Maps of School Boundaries in San Jose’s Almaden Valley

Overall, these schools are all considered good to very good or even excellent – do your due diligence, of course, as every parent may have a different idea of what is good or good enough.

Almaden Meadows Neighborhood house

What are houses like in the Almaden Meadows neighborhood?

The average size of a house in this area is 2109 square feet, but the range covers the smallest house at 1,275 SF to the largest at 3,746. Continue reading

el-sombroso-and-blossom-hill-from-vasona-parkWhat makes an expensive house in the San Jose area more than just a pricey bit of real estate, but instead a Silicon Valley luxury home? How is high end real estate different from the rest of the market? When is a property not just a home with land, but an estate?

In other parts of the U.S., spending $1,200,000 may fetch a 4000 square foot home, new construction, in an upscale gated community with country club amenities such as a golf course, tennis courts, and more. Here, that same $1,200,000 will procure an entry to mid-level single family home in many parts of Santa Clara County. It won’t necessarily be a Silicon Valley luxury home.

Luxury connotes a combination of qualities, features, and amenities. And it includes pricing (relative to the nearby market), condition, land, design.

Pricing Luxury Homes in Silicon Valley: What Do They Cost?

Expensive Silicon Valley homes are not necessarily luxury homes. Depending on the city or town, the price tag could be higher or lower. For instance, a fabulous house on a large lot in Gilroy’s Eagle Ridge might sell for 1/3 as much as the identical type of home, land and neighborhood found in Saratoga, Monte Sereno, or Los Gatos, or Los Altos, if a similar home happened to be available. Generally, though, luxury homes could cost as little as $1,000,000 or so in some parts of Silicon Valley or in neighboring counties, but in most parts of Silicon Valley, a true estate type property will be valued at $2,000,000 or $3,000,000 or more.  In some areas, such as Palo Alto, that $2 million doesn’t go too far and the home you can purchase at that price tag may need major updating – or it could be “land value”.  For our purposes today, we’ll use $2 million as the bottom number for estate properties, but it may or may not be the case in some areas.

Continue reading

Sketch of houseIt can be really challenging for people moving to Silicon Valley to get a sense of real estate prices, and perhaps more, to compare housing costs from one town or district to another.

One question I get a lot is this: what does it cost to buy a 4 bedroom, 2 bath house of about 2000 square feet?

So to answer this question, let’s see what houses like this are selling for (4 bed, 2 bath, appx 2000 SF or 185 square meters) and see how the cost looks in one Santa Clara Count y / Silicon Valley area versus another.

Today I compared several areas and cities using this criteria: single family homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 6000 SF to 10,000 SF. Normally I would chart this over the last 2 months, or 60 days, but because of the low inventory causing the sellers market I have expanded the search to the last 3 months, or 90 days, for a better range. As of this writing, Saratoga only had one sale over the last 90 days, so data for that segment may or may not be a good average.

Here’s how it shakes out in the “west valley areas” along the Highway 85 corridor, most of which are known to have good to great public schools. What areas are most affordable? One way of analyzing this is the “price per square foot” figure. Whenever I update the chart, I re-arrange the order of the cities from high to low based on the price per square foot, although there’s usually minimal movement.

2 1 - Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

To compare, here are the numbers from the this past January 26, 2017. There were fewer sales, so the search range was bumped up to 120 days instead of 90 days (and Los Altos was so low, it was individually searched at 180 days). You might notice price per square foot appears lower across the board in January compared to July. This is most likely because the market has heated up over spring and summer, which you can also see in the DOM.

Capture2 - Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

Below are my results from the same search back in September 18, 2015. By comparison, you can tell that Santa Clara’s average Price has increased, pushing it above Almaden and Campbell.

How competitive is the market? Have a look at the DOM or “Days on Market” figure. All of these days on market are short, but they range from low to heart-skippingly fast.

4homesb2 - Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

In most cases, the priciest and most desirable places have either the best schools or shortest commute location or both (Palo Alto and Cupertino have both). Had I ranked these for school scores, you’d find that Cambrian is fairly high up and a good “bang for the buck” location – though not a super short commute for folks who work in Mountain View (though not so bad for people working in Cupertino).  Almaden, too, offers a good value for the quality of the schools, homes, and neighborhoods, though the commute is longer. None of these is especially close to North San Jose (where a major employer is Cisco).

It should also be noted that in some of the smaller communities with less on the market these numbers may not be as stable as others with more data – for instance, Los Altos only had four homes sold, the second lowest, matching this criteria within the 90 days of collected data, and therefore may not be as accurate as others, such as the Blossom Valley area of San Jose with the most data at 38 homes sold. For these smaller communities with less data, it is beneficial to look at them more closely – Saratoga, for instance, has 3 different high school districts which have an impact the real estate prices. This chart is really just a snapshot to give a general sense of the relative affordability of these markets to one another. Continue reading

Located close to the Guadalupe Creek and the foothills of the coastal mountain range, the Montevideo neighborhood enjoys tree lined streets and scenic green views of the hills. Houses and yards are nicely kept. It is fairly convenient for commuting as it’s not too deeply into the San Jose area of Almaden Valley. About 500 residents call this beautiful neighborhood home.

Montevideo nighborhood in San Jose's Almaden Valley area (zip code 95120)

The Montevideo Neighborhood in the Almaden Valley area of San Jose

Shuffle board area of Montevideo cabana

Shuffle board area of Montevideo cabana

In addition to the pleasant vistas, the Montevideo home owners and residents enjoy the cabaña, which includes a community pool, clubhouse, recreation grounds (shuffleboard, volleyball court and more), a fun swim team for kids. There are very few cabañas in the west valley, so this is a big draw.

Adjacent is the very highly regarded Guadalupe Elementary School, which can boast API scores in the 900s (it was 941 in the 2013 study). Continue reading

With fabulous views, exceptionally high ranking schools and beautiful newer construction, the Graystone and Pfeiffer Ranch neighborhoods in San Jose’s Almaden Valley are perennially desirable.

Recently I was in the neighborhood and took a couple of photos which feature Mt. Umunhum.

Pfeiffer Ranch and Graystone area in Almaden

 

And one more:

View from Graystone and Pfeiffer Ranch area of Almaden Valley in San Jose, CA (photo by Mary Pope-Handy)

The neighborhood also enjoys a park along the creek with a playground to enjoy on days with better weather.

Not sure if you’ve been to this scenic part of San Jose’s Almaden Valley?  Here’s where to find it (this is where I took today’s pictures):


View Larger Map

Current listings in Graystone:

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Current listings in Almaden Valley:

  1. 5 beds, 3 baths
    Home size: 2,465 sq ft
    Lot size: 9,160 sqft
  2. 2 beds, 3 baths
    Home size: 2,175 sq ft
    Lot size: 2,874 sqft
  3. 4 beds, 2 baths
    Home size: 2,167 sq ft
    Lot size: 8,394 sqft
  4. 4 beds, 4 baths
    Home size: 2,943 sq ft
    Lot size: 14,331 sqft
  5. 6 beds, 3 baths
    Home size: 2,585 sq ft
    Lot size: 11,303 sqft
  6. 4 beds, 3 baths
    Home size: 2,310 sq ft
    Lot size: 8,080 sqft
  7. 4 beds, 3 baths
    Home size: 2,655 sq ft
    Lot size: 9,282 sqft
  8. 4 beds, 3 baths
    Home size: 2,240 sq ft
    Lot size: 13,033 sqft
  9. 4 beds, 2 baths
    Home size: 1,966 sq ft
    Lot size: 8,267 sqft
  10. 5 beds, 3 baths
    Home size: 3,287 sq ft
    Lot size: 11,086 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 9/24/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

1 2 3 7
Translation

by Transposh - translation plugin for wordpress
Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
Let’s Connect
Find Mary on FacebookFollow Mary on Twitter
RSS FeedFollow Mary on YouTube

Please see more icons
at the bottom of the page.

The real estate search
Use the widget below to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now? Use the "find a home" link on the menu above (next to the "home" button).
Mary’s other sites & blogs
Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling

Silicon Valley Real Estate Report
Silicon Valley real estate
market trends & statistics
Mary’s Blog Awards
Top 25 real estate blogs of 2018 by RentPrep2018 RentPrep.com's list of top 25 real estate blogs to follow


Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

Categories